Best SBA Lenders In Florida (2027)
Florida businesses closed 4,562 SBA 7(a) loans worth $2.77B in FY2026, through 211 lenders. Live Oak Banking Company led by dollar volume, and 577 of the loans financed business acquisitions.
Key Takeaways
- Live Oak Banking Company was the top SBA lender in Florida with $242M across 247 loans.
- 577 business acquisitions were financed, averaging $1.3M per loan.
- The median loan was $250K, and loans averaged 11.3 years in term.
- Hotels (except Casino Hotels) and Motels drew the most SBA dollars of any industry.
Top SBA Lenders In Florida
Ranked by SBA 7(a) dollar volume approved in FY2026. Average rate is the rate at approval.
| # | Lender | SBA Loans | Total Volume | Avg Loan | Avg Rate | Acquisition Loans |
|---|---|---|---|---|---|---|
| 1 | Live Oak Banking CompanyWilmington, NC | 247 | $242M | $981K | 9.08% | 67 |
| 2 | Newtek BankMiami, FL | 737 | $205M | $278K | 10.84% | 22 |
| 3 | The Huntington National BankColumbus, OH | 210 | $128M | $607K | 8.91% | 85 |
| 4 | Northeast BankLewiston, ME | 449 | $79.0M | $176K | 9.94% | 0 |
| 5 | Readycap LendingBerkeley Heights, NJ | 220 | $72.3M | $329K | 11.53% | 12 |
| 6 | TD BankWilmington, DE | 414 | $68.7M | $166K | 9.66% | 2 |
| 7 | PathwardSioux Falls, SD | 37 | $68.5M | $1.9M | 9.30% | 21 |
| 8 | First Internet Bank of IndianaFishers, IN | 56 | $67.2M | $1.2M | 9.25% | 38 |
| 9 | Bank of AmericaCharlotte, NC | 95 | $57.9M | $609K | 7.91% | 3 |
| 10 | GBankLas Vegas, NV | 18 | $57.2M | $3.2M | 8.22% | 7 |
| 11 | Paradise BankBoca Raton, FL | 33 | $52.9M | $1.6M | 8.73% | 4 |
| 12 | Byline BankChicago, IL | 38 | $50.2M | $1.3M | 9.44% | 23 |
| 13 | Pinnacle BankNashville, TN | 22 | $49.6M | $2.3M | 8.75% | 9 |
| 14 | Fifth Third BankCincinnati, OH | 52 | $48.6M | $935K | 9.99% | 3 |
| 15 | Truist BankCharlotte, NC | 26 | $47.9M | $1.8M | 7.96% | 3 |
Best SBA Lenders For Buying A Business In Florida
Business acquisition loans are SBA loans used to buy an existing company. They are larger than average and need more experience from the lender.
Most Active Acquisition Lenders
- The Huntington National Bank85 acquisition loans
- Live Oak Banking Company67 acquisition loans
- First Internet Bank of Indiana38 acquisition loans
- Byline Bank23 acquisition loans
- Newtek Bank22 acquisition loans
- Pathward21 acquisition loans
Among this area's top 15 lenders by volume.
Buying A Business?
We take your deal to the SBA lenders that close the most acquisitions, so they compete for it. It is free to you.
Loan Sizes In Florida
How SBA dollars split by loan size.
Top Industries In Florida
Industries that drew the most SBA dollars.
SBA Lending In Florida Since 2020
SBA 7(a) dollars approved each fiscal year.
FY2026 dollar volume in Florida was down 14.0% from FY2025, and the loan count was down 27.6%. Part of that drop is the calendar: SBA approved no 7(a) loans in October 2025 during the federal government shutdown (October 1 to November 12, 2025), so FY2026 covers about 11 months of lending.
How To Choose An SBA Lender In Florida
Lending in Florida is spread out. 211 lenders made at least one SBA 7(a) loan, and the top five together made 26% of the dollars. That gives you room to compare offers, because no single bank sets the terms.
Newtek Bank made the most loans (737, averaging $278K), while Live Oak Banking Company led on dollars with fewer, larger loans averaging $981K. Volume leaders and count leaders often serve different deal sizes, so match the lender to the size of your loan.
Most of the top lenders here are national SBA specialists. Newtek Bank is the highest ranked lender headquartered in FL.
The average SBA loan here was $607K, close to the national average of $578K, and the median was $250K.
Among the top lenders with at least three loans, Bank of America had the lowest average rate at approval (7.91%). The overall average was 9.72%, and 92% of loans were variable. Rate depends heavily on loan size and term, so compare offers on the same structure.
Business acquisitions made up 28% of SBA dollars here, above the national share of 27%. 577 buyers used an SBA loan to purchase a business, with an average acquisition loan of $1.3M.
The fastest way to compare is to send one complete package to several lenders at once. That is what we do: GoSBA Loans takes your deal to the SBA lenders that fit it, and they compete for your business.
How Much You Need Down
For a business acquisition, SBA sets the minimum Down Payment. Lenders can ask for more.
- 10% minimum. SBA requires a Down Payment of at least 10% of the project for an initial business acquisition (SOP 50 10 8.1, Appendix 15).
- A seller note can cover up to half. When the seller finances part of the price on full standby, with no payments for the life of the SBA loan, it can count for up to half of the required Down Payment. That can bring your cash to 5%.
- Investors can help. Minority investors can fund part of the Down Payment. Anyone who owns 20% or more personally guarantees the loan.
- Ten year term for most acquisitions. Business acquisition loans without real estate run up to 10 years. Real estate in the deal can stretch the term.
Example For Florida
The average business acquisition loan here was $1.3M. At 10% down, that is a project of about $1.5M:
Illustration only. Your lender sets the final structure.
Questions About SBA Lenders In Florida
Who is the top SBA lender in Florida?
Live Oak Banking Company made the most SBA 7(a) dollars in Florida in FY2026: $242M across 247 loans. Newtek Bank made the most loans by count (737).
How many SBA loans were made in Florida?
SBA approved 4,562 7(a) loans totaling $2.77B in Florida in FY2026. The average loan was $607K and the median was $250K. 211 lenders made at least one loan.
What is the average SBA loan rate in Florida?
The average initial rate on SBA 7(a) loans in Florida was 9.72% (8.78% weighted by loan size). 92% of loans had a variable rate tied to the Prime Rate. SBA caps the spread a lender can charge, and larger loans usually price lower.
Which SBA lender is best for buying a business in Florida?
The Huntington National Bank closed the most business acquisition loans among the top lenders here (85). The best lender for your deal depends on its size and industry, so it helps to have several lenders review it.
How much do I need down to buy a business in Florida with an SBA loan?
SBA requires at least 10% down for a business acquisition. A seller note on full standby can cover up to half of that, so some buyers put in 5% of their own cash. On the average acquisition loan here ($1.3M), 10% down is roughly $149K.
Does GoSBA Loans charge borrowers?
No. GoSBA Loans is 100% free to borrowers. We prepare your loan package and take it to the SBA lenders that fit your deal.
Keep Exploring
Cities In Florida
- Miami$190M
- Orlando$149M
- Tampa$118M
- Jacksonville$90.3M
- Fort Myers$68.2M
- Fort Lauderdale$54.0M
- Sarasota$52.2M
- Saint Petersburg$46.6M
- Naples$43.0M
- West Palm Beach$40.3M
- Boca Raton$39.7M
- Pompano Beach$36.7M
- Cape Coral$35.2M
- Ocala$35.0M
- Delray Beach$34.6M
- Bradenton$33.7M
- Pensacola$33.6M
- Clearwater$29.6M
- Boynton Beach$29.3M
- Saint Augustine$27.0M
- Hialeah$27.0M
- Hollywood$25.8M
- Doral$25.7M
- Vero Beach$24.9M
- Deerfield Beach$23.5M
- Kissimmee$22.7M
- Fort Pierce$21.8M
- Apopka$21.5M
- Palm Beach Gardens$21.2M
- Melbourne$20.6M
- Stuart$19.7M
- Davie$18.7M
- Sanford$17.8M
- Lakeland$17.7M
- Winter Garden$17.1M
- Wellington$17.1M
- Coral Springs$15.2M
- Tallahassee$13.9M
- Plantation$13.6M
- Port Saint Lucie$12.8M
- Venice$11.9M
- Jupiter$11.7M
- Winter Park$11.6M
- Ormond Beach$11.0M
- Longwood$6.6M
- Port Charlotte$3.5M
Top Industries Here
- Hotels (except Casino Hotels) and Motels
- Full-Service Restaurants
- Limited-Service Restaurants
- All Other Specialty Trade Contractors
- Fitness and Recreational Sports Centers
- Child Care Services
- Offices of Physicians (except Mental Health Specialists)
- Offices of Dentists
- Insurance Agencies and Brokerages
- Landscaping Services
About this data. Rankings use SBA 7(a) loan approvals from the SBA FOIA data set, fiscal year 2026 (October 1, 2025 to September 30, 2026), as published by SBA through September 30, 2026. Lenders are ranked by approved dollar volume. Rates are the initial rate at approval, a simple average across loans; most SBA 7(a) loans are variable and move with the Prime Rate. Business acquisition loans are those SBA marks as a change of ownership. GoSBA Loans is an SBA loan broker, not a lender, and is not affiliated with SBA.
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